• ☕ NIL Cold Brew?
• 🧑‍⚖️ C&S Sues Kroger
• 💪 Brevel Adds $5M 
• 🖤 Junior Bridgeman Dies at 71
• 📰 Reading List
• 🔀 Monday Moves

From the playful rise of #WaterTok to the wellness appeal of prebiotic sodas, consumers are reshaping what they expect from a simple sip. Flavored water is leading the charge, bridging fun, function, and flavor in ways brands can’t afford to ignore. See where innovation is headed next. Learn more

HiBall Energy is getting another shot at retail.

Less than a year after Anheuser-Busch InBev sold HiBall to Tilray Brands, the “Sparkling Energy Seltzer” brand is returning to stores with a launch in Whole Foods Market this Spring.

The news comes as the energy drink set is abuzz with M&A activity – from Celsius’ $1.8 billion acquisition of Alani Nu earlier this year to KDP’s fall pick-up of Ghost (another brand that formerly had close ties with AB).

But there’s still the big question: Is a second go-around what HiBall needs?

Rewind: HiBall was acquired by AB in 2017 with the intent of building out the beer giant’s non-alc portfolio and giving it a fast-growing player in the rising energy category. And then… it got pretty quiet.

Sales growth slowed to a crawl and ultimately HiBall’s potential was swamped by a new wave of performance energy brands, led first by Bang, then by Celsius. By 2023, AB pulled the plug and soon after sold the brand to Tilray, along with a roster of craft beer brands in an $85 million cash deal.

But Tilray – whose primary business is in cannabis – appears bullish on the pickup. The brand relaunched online last year and has been testing on Amazon ever since; the company said its Amazon business has seen sales jump 68% in the past six months. 

🆓 Check out the full story to learn more about the revived product line and new approach.

The 1890 Initiative launched the 1809 Nebraska Cold Brew through an expanded agreement with Ensign Beverage Company. 1890 exists to help student-athletes in Nebraska benefit from name, image, likeness (NIL) initiatives.

👀 The new locally-crafted coffee is roasted in Lincoln, Nebr., and brewed in Hastings. The 12 oz. cans are available at retailers throughout the Cornhusker State. 

💰 Proceeds from each purchase of 1809 Nebraska Cold Brew will go toward supporting 1890’s NIL initiatives.

Go Deeper: How NIL Deals Supported A Sports Marketing Evolution

Kroger has found itself entangled in yet another lawsuit over its failed $24.6 billion merger with Albertsons. C&S Wholesale Grocers sued the grocery giant for allegedly refusing to pay a $125 million termination fee after the deal fell apart, The Wall Street Journal reported.

⏪ Last year, C&S agreed to acquire up to 579 Kroger and Albertsons stores in a deal valued at approximately $2.9 billion. 

💭 “Kroger failed to identify any reason for its refusal to pay the termination fee it owed C&S – because there is none,” C&S said in the suit, according to WSJ’s report. Meanwhile, a Kroger spokesperson said C&S forfeited its rights to the fee. 

👀 The news comes just weeks after Kroger CEO and chairman Rodney McMullen resigned following a board investigation that deemed his personal conduct “inconsistent” with the company’s policy on business ethics. 

Go Deeper: Kroger, Albertsons Terminate Mega-merger Agreement

Microalgae is gaining momentum in food and beverage as Brevel upped its seed round with an extra $5 million, pushing the total round to $25 million. Microalgae has also recently gained ground as an alternative oil. 

• The climate-tech startup will accelerate its go-to-market strategy and continue commercializing its neutral-flavored microalgae protein isolate powder for food and beverage use. 
• The functional protein ingredient has emulsifying, gelling, and foaming properties. Its nutritional profile includes fiber, antioxidants and all essential amino acids. 
• NevaTeam Partners, Siddhi Capital, European Union's EIC Fund, Good Protein Fund, The Food Tech Lab and PVS Investments contributed to the round, among others.
• The company also recently locked in a commercialization agreement with Israel-based beverage business The Central Bottling Company and completed the buildout of its first factory. 

The beverage industry is mourning the loss of Junior Bridgeman, after the former college hoops star and NBA player was laid to rest on Saturday in Louisville, Ky. Bridgeman died on March 11 from a heart attack. He was 71 years-old. 

🏀 After a solid career as a mainstay with the Milwaukee Bucks, Bridgeman became a celebrated businessman and fast food franchisee through his Louisville-based investment group, Manna Inc.

🚚 His work there brought him close to Coca-Cola, and in 2017 led to his ownership of a new operation, Heartland Coca-Cola Bottling Co., servicing territories in Kansas, Missouri, and Southern Illinois. 

🤝 Bridgeman’s most recent deal was the 2023 acquisition of Nor-Cal Beverage Company through Manna Beverages & Ventures (MB&V).

BevNET extends its condolences to Mr. Bridgeman’s family and associates for their loss. 

Here’s a taste of the headlines our editorial team has been watching over the weekend…

🥤 Soda taxes are back and getting a secondary spotlight next to the ongoing ultraprocessed foods debate (more on that below). Beverage industry entrepreneur Seth Goldman details why sugary-drink taxes are bad news for healthier diets in a recent op-ed in the Baltimore Sun. 

🥨 Axios muses over what could have caused the “slowdown in snacking,” observed by leading CPG conglomerates including General Mills, Campbell’s and Smucker’s over the past quarter. The slowdown has also been tracked among lower-income shoppers by way of discount retailers like Dollar General.

📣 Walmart and Target are “bickering” behind the scenes with suppliers over proposed, tariff-driven price hikes, per a recent Reuters report. The retailers claim they can’t raise prices without losing market share and alienating shoppers, but with another wave of tariffs set to go into effect by mid-April, what could happen next?

🥼 Ultraprocessed foods have become a hot topic for industry discussion over the past year. But with little industry authority or regulatory clarity on the matter, the Associated Press dives into key concerns from this food category with insight from a handful of nutrition scientists. 

Here’s a taste of the people and products moving around the industry to start off your week.

🥛 Organic Valley appointed Shawna Nelson as its fourth CEO, replacing Jeff Frank. Nelson joined the co-op business as an intern in 2005 and has worked her away through the ranks in a variety of roles.

• Outgoing Organic Valley CEO Jeff Frank has been appointed CEO of food manufacturer Monogram Foods, effective April 28.

🔴 Coke Florida has expanded the role of its chief customer officer Andy Hill to include chief commercial officer as well. Additionally, president and COO Thomas Benford will be transitioning into an advisory role by the end of the year.

🥤 After an up-and-down 2024, Jones Soda Co. is attempting to right the ship announcing an expanded distribution footprint with two new DSD partners.

🍸 NEFT Vodka has added Justin Burnett as its new chief sales officer. Burnett comes to the bev-alc brand with experience building retail strategies for Voss Water and Hella Cocktail Co.